Submission of Reports on Y2K Street Wide Testing

August 17, 1999 PSE MEMO FOR BROKERS NO. 296-99 SUBJECT : Submission of Reports on Y2K Street Wide Testing Due to the cancellation of the scheduled PCD Y2K Street Wide Test last Saturday, 14 August 1999, the deadline for submission of the required Y2K Street Wide Test reports is moved from Wednesday, 18 August 1999 (per Memo For Brokers No. 280-99) to Wednesday, 25 August 1999 . Brokers may, however, start submitting said reports for test dates August 5-7, 1999 as scheduled. Further, the PCD system shall be available for the resumption of the Y2K testing on Saturday, 21 August 1999, PCD will broadcast the test procedures and reminders within the week. For further queries, please call Mr. Reggie Javier at tel. no. 893-5636. dctai For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer FAX TRANSMITTAL SHEET TO : Broker's Y2K Street-wide Testing Team FROM : PCD Y2K SWT Coordinator RE : Results of the August 21, 1999 Y2K SWT DATE : August 23, 1999 No. of pages including this: 3 We apologize that you were not able to use the online functions of the PCD system last Saturday. The good news is, even without the online functions, the Y2K SWT can still be completed successfully. Attached is a letter explaining what transpired last Saturday. It also details what you need to do in order to complete the Y2K SWT from your end. In summary, please do the following any time this week: a. Download the Feb. 29, 2000 morning reports (if you did not do this last Saturday) as well as the EOD report extract files so you can print the necessary reports from your workstations. Alternatively, you may also pick up the hard copies of your reports from PCD any time. These hard copies are free-of-charge. b. Reconcile the EQ Confirmed Entitlements Report with your backroom system's report to check that the stock and cash dividends paid on Feb. 29, 2000 were computed accurately (if you did not do this last Saturday). c. Use the EQ Stock Ledger Issues with Movements report and reconcile the figures with your own Stock Ledgers. Note that those of you with short positions for Feb . 29, 2000 will have failed trades . Your counterparties will also have failed trades . The EQ Failed Exchange Trade Report for Brokers will facilitate your reconciliation. d. For those who have not passed the April 1999 SWT, please submit the required reports to PSE. Thank you and best regards.